Farmstand Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09899173 (England and Wales)

Farmstand Limited

Unaudited Financial Statements for the Year Ended 31 December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L M Gutowski

N Motelay

S R Novick

B Romer

P J Rotheram

R S H Von Ribbentrop

R C Williams

REGISTERED OFFICE:

42 Drury Lane

London

WC2B 5AJ

REGISTERED NUMBER:

09899173 (England and Wales)

FIXED ASSETS

Investments

3

1

1

CURRENT ASSETS

Debtors

4

1,772,782

758,240

CREDITORS

Amounts falling due within one year

5

(10,566

)

-

NET CURRENT ASSETS

1,762,216

758,240

TOTAL ASSETS LESS CURRENT LIABILITIES

1,762,217

758,241

CREDITORS

Amounts falling due after more than one year

6

(200,000

)

-

NET ASSETS

1,562,217

758,241

CAPITAL AND RESERVES

Called up share capital

160,589

131,126

Share premium

1,414,413

628,524

Retained earnings

(12,785

)

(1,409

)

1,562,217

758,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 September 2019 and were signed on its behalf by:

S R Novick - Director

1.	STATUTORY INFORMATION

Farmstand Limited is a private company, limited by shares and registered in England and Wales. The company's registered number and

registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies

and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and

Republic of Ireland ("FRS 102") and the Companies Act 2006. The presentational and functional currency of these financial statements is

sterling. All amounts in the financial statements have been rounded to the nearest £1.

These financial statements for the year ended 31 December 2017 are the first financial statements of Farmstand Limited prepared in

accordance with FRS 102. The date of transition to FRS 102 was 2 December 2015.

In the transition to FRS 102 from the Financial Reporting Standard for Smaller Entities (effective January 2015) the company has made no

measurement and recognition adjustments.

Going concern

The directors believe that notwithstanding current year losses of £11,376, the company's financial statements should be prepared on a going

concern basis on the grounds that current and future sources of funding or support from directors will be adequate to meet the company's

needed for a period of 12 months from the date of approval of these financial statements.

Related party exemption

The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned

subsidiaries within the group.

Preparation of consolidated financial statements

The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue

of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual

undertaking and not about its group.

Basic financial instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are

recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised

cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing

transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments

discounted at a market rate of interest for a similar debt instrument.

Investments

Investments in subsidiaries are held at cost less accumulated impairment losses.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of

impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying

amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets carrying amount

and the best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the

balance sheet date.

Current and deferred taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent

that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other

comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively

enacted at the balance sheet date.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences arising because

certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or

smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or

substantively enacted at the balance sheet date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the

reversal of deferred tax liabilities or other future taxable profits.

3.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2017

and 31 December 2017

1

NET BOOK VALUE

At 31 December 2017

1

At 31 December 2016

1

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Amounts owed by group undertakings

1,772,782

758,240

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Accruals and deferred income

10,566

-

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Other loans - 2-5 years

200,000

-